rate positively ..
| Computation of future value | ||||
| Future value = | 7000*(1+2%)+7000 | |||
| 14140 | ||||
| Therefore answer = option a_ | $ 14,140 |
e $7,000 per year, count that pays 2.0% 10. You want to buy a new ski...
You want to buy a new sports car 3 years from now, and you plan to save $4,200 per year, beginning one year from today. You will deposit your savings in an accountthat pays 5.2% interest. How much will you have just after you make the 3rd deposit, 3 years from now?
want to buy a condo 5 years from now, and plant to save $5000 per year, beginning one year from today. the money will be deposited in an account that pays 6% interest. how much will you have just after you make the 5th deposit, 5 years from now
nncta b. $16,110.34 c. $17,513.68 d. $17,976.84 e. $16,390.50 You want to go to grad school 3 years from now, and you can save $5,000 per year. De immediately. You plan to deposit the funds in a mutual fund which you expect to return 9% per year. Under these conditions, how much will you have just after you make the 3rd deposit, 9 years from now a. $14,976.84 b. $16,110.34 c. $17,513.68 d. $17,865.65 e. $18,349.15 You have a chance...
MINDTAP Q Search this n. 5 Quiz Submit Test for Grading Save MC.05.091 Question 4 of 5> You want to buy a new sports car 3 years from now, and you plan to save $6.200 per year, beginning one year from today. You will deposit your savings in an account that pays 5.2% interest. How much will you have just after you make the grd deposit, 3 years from now? O a. $19,583.96 O b. $24,284,12 O C $22,521.56 d....
You want to buy a new surfboard 12 years from now. You have $600 in the bank today. You can earn 7% on your savings. If the surfboard will cost $5,000, how much will you have to save every year to have enough to buy it? Round your answer to 2 decimals, for example 100.12
You want to go to Europe 5 years from now, and you can save $7,300 per year, beginning one year from today. You plan to deposit the funds in a mutual fund that you think will return 8.5% per year. Under these conditions, how much would you have just after you make the 5th deposit, 5 years from now? a. $50,608.61 b. $51,906.27 c. $46,715.64 d. $32,873.97 e. $43,255.22
You want to buy a new surfboard 6 years from now. You have $700 in the bank today. You can earn 5% on your savings. If the surfboard will cost $5,000, how much will you have to save every year to have enough to buy it? Round your answer to 2 decimals, for example 100.12 You are thinking of buying a new car for $50,000. You will borrow the money to buy the car, and payback the loan in annual...
Alan has just started work and he has been wanting to buy a sleek power boat for some time. Rather than purchase and finance now, he plans to save money to buy it. He plans to deposit a fixed amount every month into a bank account that pays 3% a year, compounded monthly. His first deposit will be made a month from now. How much must each deposit be, if he is going to buy the boat in 5 years...
A bank account pays 1.5% per year with annual compounding. You plan to deposit $25,000 per year for each of the next 5 years. If the first payment occurs 1 year from today, how much money will be in the account 5 years from now, immediately following your last deposit? The answer is $128,806.67 - I just don't know how to get it.
You are 40 years old and want to retire at age 60. Each year, starting one year from now, you will deposit an equal amount into a savings account that pays 7% interest. The last deposit will be on your 60th birthday. On your 60th birthday you will switch the accumulated savings into a safer bank account that pays only 4.4% interest. You will withdraw your annual income of $100,000 at the end of that year (on your 61st birthday)...